If you’re underwater on your conforming, conventional mortgage, you may be eligible to refinance without paying down principal and without having to pay mortgage insurance. Important Note: Fannie Mae and Freddie Mac are scheduled to provide full details of the program, including information to lenders, by Nov. 15. The FHFA says some lenders may be [...]
Interested-party contributions (IPCs also know as seller contributions) are costs that normally are the responsibility of the property purchaser that are paid (directly or indirectly) by someone else who has a financial interest in, or can influence the terms and the sale or transfer of, the subject property. These persons or entities include, but are [...]
Ran across this great article the explains why exactly NOW is literally the best time to buy in recorded history. Get in touch with me for questions about getting preapproved to buy your home. Excerpts from the article: By Dr. Steve Sjuggerud Wednesday, June 1, 2011 Now is literally the best time in recorded history [...]
Reporting from Washington — For years the federal government prohibited the use of Federal Housing Administration mortgage financing by buyers purchasing homes from sellers who had owned the property for less than 90 days. The idea was to prevent speculators from defrauding the government through quick flips of houses — often involving straw buyers and [...]
What is the Oregon Homeownership Stabilization Initiative (OHSI)? The Oregon Homeownership Stabilization Initiative is the name of Oregon’s new foreclosure prevention programs. The US Department of Treasury gave 17 states—including Oregon—money from a special fund for states hit hardest by the recession. Oregon Housing and Community Services created OHSI to deliver programs throughout the state [...]
The economy’s improving but lending standards are not. Nationally, banks are making mortgage approvals harder to come by. Underwriting guidelines are tightening.
